So......The wait is over and the results are as I expected, or, perhaps even a little worse.
´Underwhelming´ seems to be the appropriate adjective to use.
Looking ahead: - Will Ian and Doug lead by example and participate materially in the next fund-raise?
- Will an industry heavyweight be the lead order?
- Will they JV?
The hard, undeniable fact is that management ownership is very low and, if indeed the m/cap today is a steal, they need to dig deep to maintain my interest here.
In the absence of their doing so, I will be moving on and investing elsewhere.
Bb